Steven Cobb
Douglas J. Olberding

This paper provides empirical support for the Alchian and Allen “shipping the good apples out” hypothesis. The hypothesis version tested here involves estimating the effect of travel cost on the quality of a weekend trip to Cincinnati, where travel cost is measured by time spent in travel and visit quality is measured by the amount of discretionary spending associated with the trip. Using linear regression analysis on data from race participants in the 2008 Flying Pig marathon and half marathon races, strong and robust evidence is found to support the validity of this hypothesis....Read more

Steven Cobb
Douglas J. Olberding

Marathon running has experienced considerable growth in recent years, fueled both by an increase in participation rates and by a corresponding increase in the number marathons staged each year. Because marathons have a presumed economic benefit, there also has been growth in the number of marathon-related economic impact studies. However, these studies calculate incorrectly, or omit altogether, an important source of impact: the impact generated when local runners use their home-city marathon as a substitute for participating in an alternative marathon out-of-town. Given that this pattern...Read more